The mechanical power transmission market would increase at a linear pace of 6% between 2022 and 2032, reaching US$ 65.25 Bn in 2022. According to Fact.MR, vehicle weight reduction is a top priority for automakers in order to increase fuel economy.
The demand for lightweight components is actually rising as a result, and various mechanical power transmission items, like chain drives and belt drives, are seeing increase. As a result, it is anticipated that the global market for mechanical power transmission would grow to US$ 108.3 Bn by 2032. In order to carry out experiments smoothly, mechanical power transfer is crucial for industries producing goods. The main benefit is that it is equipped with the ability to reverse rotation direction and change rotational speeds. IT could also split as well as distribute power sources.
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Key Takeaways from Market Study
- North America holds 23.1% of the market share.
- Europe is expected to contribute for 21.3% of the market.
- Rapid technological advancements to keep up the momentum for mechanical power transmission market
Market Developments
The key participants are looking through cutting-edge technologies for curtailing the downtime, enhancing output, and bettering the system value.
• AmTech International does have a plethora of the custom-made gears to facilitate mechanical power transmission. The gears include bevel gears, spur gears, and worm gears. They have been designed as per specifications stated by customers. High-quality materials like stainless steel, iron, carbon steel, and bronze are used by the company.
The emergence of high-end mechanical power transmission systems that operate silently and are vibration-free is likely to help industrial applications. The development of mechanical power transmission systems will continue to support the needs of heavy-duty industries, material handling, and water and wastewater treatment applications thanks to their extensive knowledge and wide range of capabilities.
“Growing Usage of Mechanical Power Transmission Products in Automotive Industry for Effectiveness of Machinery”
Based on end users, the market is classified into automotive, construction, food & beverages, metals & mining, and others.
Demand for mechanical power transmission products in the automotive industry is projected to increase at a significant CAGR over the forecast period.
This increases the effectiveness of automotive transmission systems in industries. The use of mechanical power transmission equipment has increased due to these considerations on a global scale.
Industry Research
- by Product :
- Belt Drives
- V-belt Drives
- Synchronous Belt Drives
- Chain Drives
- Couplings
- Clutches
- Others
- by End User :
- Automotive
- Construction
- Food & Beverages
- Metals & Mining
- Others
- by Sales Channel :
- OEMs
- Aftermarket
- by Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global mechanical power transmission market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights by product (belt drives, V-belt drives, synchronous belt drives, chain drives, couplings, clutches, and likewise), by end-user (automotive, construction, food & beverages, metals & mining, and others), by sales channel (OEMs and aftermarket), and by region (North America, LATAM, Europe, East Asia, South Asia & Oceania, and MEA).
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